Connect Biopharma Holdings, a Chinese Phase 2 biotech developing therapies for T cell-driven inflammatory diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Connect's lead candidate, CBP-201, is an antibody designed to target interleukin-4 receptor alpha, a validated target for the treatment of inflammatory diseases such as atopic dermatitis (AD) and asthma. The company has initiated a Phase 2b trial of CBP-201 moderate-to-severe AD in the US, Australia, and New Zealand, with top-line results expected in the 2H21. Connect also plans to initiate additional trials in asthma and chronic rhinosinusitis with nasal polyps in the 1H21 and in AD patients in China in the 2H21.
The Taicang, China-based company was founded in 2012 and plans to list on the Nasdaq under the symbol CNTB. Connect Biopharma Holdings filed confidentially on December 17, 2020. Jefferies, SVB Leerink, Piper Sandler and CICC are the joint bookrunners on the deal. No pricing terms were disclosed.
